Examples of Security Documents in a sentence
Nothing herein contained shall be construed as a substitution or novation of the obligations, guarantees and liabilities outstanding under the Security Documents, and it is the intent of the parties hereto to confirm that all of the respective obligations of each of the Borrower and each other Credit Party under the Security Documents to which it is a party shall continue in full force and effect.
The proceeds of the credit extensions hereunder: (i) are to be used for the purposes permitted pursuant to Section 5.09, and (ii) shall be secured by the Collateral, pursuant to the Security Documents.
Upon any notice of resignation of the Collateral Agent hereunder and under the other First-Priority Security Documents, the Grantors agree to use commercially reasonable efforts to transfer (and maintain the validity and priority of) the Liens in favor of the retiring Collateral Agent under the First-Priority Security Documents to the successor Collateral Agent as promptly as practicable.
Upon the acceptance of a successor’s appointment as Collateral Agent hereunder and under the First-Priority Security Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Collateral Agent, and the retiring Collateral Agent shall be discharged from all of its duties and obligations hereunder or under the other First-Priority Security Documents (if not already discharged therefrom as provided above in this Section).
The Administrative Agent shall have received the executed customary legal opinions of (a) Xxxxxxxx & Xxxxx LLP, special New York counsel to Holdings and the Borrower, and (b) Xxxxxx, Xxxx & Xxxxxxxx LLP, special Texas counsel to Holdings and the Borrower, in each case, solely in respect of the Security Documents described in Section 6.1. Holdings, the Borrower, the other Credit Parties and the Administrative Agent hereby instruct such counsel to deliver such legal opinions.